California

The Los Angeles County Metropolitan Transportation Authority’s board voted last week to study the feasibility of creating a light rail system on the Orange Line to connect the San Fernando and San Gabriel Valleys.

San Francisco Mayor Ed Lee approved a $500 million general obligation bond measure that will go before voters on Nov. 4.

Moody's Investors Service downgraded three tranches of Fort Irwin Land LLC, Calif. military housing revenue bonds citing concern over volatility and debt service coverage.

California State University is planning to sell $744 million of revenue bonds this week to refund outstanding debt and provide funding for various campus projects across the state.

Costs of complying with environmental regulations could increase for California's hydroelectric-reliant public utilities as the state's severe drought pushes them toward more generation sources with higher greenhouse gas emissions, according to Fitch Ratings.

An independent accountant hired by the Long Beach Community College District in California has estimated that the district may have to pay about $1.73 million to settle with the Internal Revenue Service under the agency's voluntary closing agreement program, an issuer official said.

A court of appeals upheld a proposed route connecting the San Francisco Bay Area to the Central Valley for California's $68 billion high speed rail project.

Municipal Assurance Corp., Assured Guaranty's municipal-only business, has been licensed by the California Department of Insurance to write financial guaranty insurance in the state alongside its affiliates Assured Guaranty Municipal Corp. and Assured Guaranty Corp.

A majority of Californians would vote “yes” to an $11 billion water bond on the November ballot, according to a survey from the Public Policy Institute of California.

Credit spreads on California's general obligation have been narrowing, both before and after the state's upgrade to Aa3 by Moody's Investors Service.

Gov. Jerry Brown signed a bill into law on Wednesday that will expand an existing law to require California debt issuers to disclose any direct loans from banks to the California Debt and Investment Advisory Commission.

Fitch Ratings has upgraded the ratings on more than $1 billion of outstanding revenue bonds issued for Stanford Hospital & Clinics.

Former Assembly Speaker John A. Pérez, D-Los Angeles, officially bowed out of the race for California's next controller after calling off the recount of votes from the primary election.

California's new water usage restrictions are a credit negative for water utilities throughout the state, according to Moody's Investors Service.

The Contra Costa County, Calif. civil grand jury found that seven of its school districts have issued capital appreciation bonds in the last ten years, and is urging them not to sell any more.

Providence Health & Services priced a deal to finance acquisition of a California hospital, an example of the consolidation trend in healthcare as hospitals grapple with financial pressures wrought by the federal healthcare law

Fitch Ratings on affirmed its AAA long-term rating and F1-plus short-term rating on the credit enhancement program sponsored by the California Public Employees' Retirement System.

The Alameda Unified School District board of education gave the go ahead for a $180 million general obligation bond for school improvements to go on the November ballot.

A ruling that Stockton's pension obligations can be treated the same as other contracts in municipal bankruptcy would have significant impacts on some local government bondholders in California, according to Moody's Investors Service.

Bankruptcy court filings indicates mediation dates have been set for insurers to wrap San Bernardino's bonds to negotiate their fate in the city's Chapter 9 bankruptcy case.